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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash $ 13,477 $ 25,019
Restricted cash 3,073 2,841
Short-term investments 21,853 21,597
Accounts receivable, net 46,098 59,767
Prepaid expenses and other current assets, net 108,367 74,072
Total current assets 192,868 183,296
Non-current assets    
Long-term investment 290 286
Property, software and equipment, net 23,463 24,195
Construction in progress 24,335
Intangible asset 413 408
Deferred tax assets, net 11,781 11,947
Other non-current assets 3,759 30,821
Right-of-use assets 2,056 2,243
Total non-current assets 66,097 69,900
TOTAL ASSETS 258,965 253,196
Current liabilities    
Short-term borrowings 82,082 80,394
Long-term borrowing, current 36 71
Accounts payable 46,918 41,404
Contract liabilities 6,104 5,730
Tax payable 1,464 1,468
Accrued expenses and other current liabilities 6,089 10,697
Operating lease liabilities, current 835 834
Total current liabilities 150,547 147,257
Non-current liabilities    
Operating lease liabilities, non-current 1,157 1,333
Long-term borrowing, non-current 1,377 1,358
Warrant liabilities 50 50
Total non-current liabilities 15,272 15,257
Total liabilities 165,819 162,514
Commitments and contingencies (Note 18)
Shareholders’ equity    
Additional paid in capital 232,989 233,014
Accumulated deficit (198,601) (199,329)
Accumulated other comprehensive loss (1,227) (1,146)
Total SUNCAR TECHNOLOGY GROUP INC’s shareholders’ equity 33,172 32,550
Non-controlling interests 59,974 58,132
Total shareholders’ equity 93,146 90,682
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 258,965 253,196
Related Party    
Current liabilities    
Amount due to related parties, current 7,019 6,659
Non-current liabilities    
Amount due to related parties, non-current 12,688 12,516
Class A Ordinary Shares    
Shareholders’ equity    
Ordinary shares value 6 6
Class B Ordinary Shares    
Shareholders’ equity    
Ordinary shares value $ 5 $ 5